Are you prepared for the possibility of being too old to hire and too young to retire?
Over the past five years, the Employee Benefit Research Institute's Retirement Confidence Survey (to download the survey, click here) has shown that between 45 percent and 50 percent of retirees leave the workforce earlier than planned.
The American Society on Aging, meanwhile, found that 45 percent of unemployed 55- to 64-year-olds were reported as unemployed long-term (i.e., 27 weeks or longer) versus 33 percent of 25- to 34-year-olds.
"It's definitely a fact of life," said Richard Colarossi, a certified financial planner with Colarossi & Williams Financial Advisory Group. "It's devastating."